Las Vegas Sands Corp. Q1 Profit Beats As Revenue Matches View

Las Vegas Sands Corp. (NYSE: LVS) Wednesday posted solid first quarter earnings results, as it continues to invest heavily in overseas gaming.

Written by StockNews.com

The Las Vegas-based casino operator reported Q1:

earnings per share (EPS) of $0.66, which was $0.04 better than the Wall Street consensus estimate of $0.62,

revenues rose 14.3% from last year to $3.11 billion, matching analysts’ view for $3.11 billion,

Consolidated Adjusted Property EBITDA jumped 24.9% to $1.15 Billion in the latest period, with margins gaining 310 basis points to 36.9%.

The company commented via press release:

“Looking ahead we remain focused on the execution of our proven global growth strategy, which leverages the power of our unique convention-based Integrated Resort business model.

We remain confident in our ability to bring the economic benefits of our proven business model to promising new markets around the world as they emerge and develop in the future.”

Las Vegas Sands Corp. shares were mostly flat in after-hours trading Wednesday following the report. Year-to-date, LVS has gained 12.38%, versus a 7.12% rise in the benchmark S&P 500 index during the same period.

LVS currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 21 stocks in the Entertainment – Casinos/Gambling category.